Regression Analysis Was Applied Between Demand for a Product (Y)

question 123

Multiple Choice

Regression analysis was applied between demand for a product (y) and the price of the product (x) , and the following estimated regression equation was obtained. ​ = 120 - 10x
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Based on the above estimated regression equation, if price is increased by 3units, then demand is expected to

• A) increase by 120 units.
• B) decrease by 100 units.
• C) increase by 30 units.
• D) decease by 30 units.

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Definitions:

Outbound Logistics

The process involved in moving products from the production facility to the end user or intermediary, such as transportation and warehousing.

Procurement

The process of obtaining goods or services, typically for business purposes, including selection, negotiation, and acquisition.

Human Resources

The division within a company that focuses on the recruitment, management, and direction of people who work in the organization.